AE-FUNAI Department of Economics Sets Agenda for Sustainable Economic Development in Africa

The Department of Economics and Development Studies, Alex-Ekwueme Federal University Ndufu-Alike, AE-FUNAI ,Ebonyi State, has set Sustainable Economic Development agenda for African countries at its 3rd International Hybrid Conference held at the Theatre Arts Auditorium of the university,

The conference which brought together academics, policy makers and industry watchers for the purpose of sharing ideas, comparing notes and proffering workable solutions to the intractable economic challenges facing the continent espoused the theme: “Uncertainty, Innovation & Sustainable Development in Africa”. 

Speaking at the event, the Vice-Chancellor of the AE-FUNAI, Professor Sunday Oge Elom, said that there is high level of uncertainty in the world, noting that it looks as though people are in the middle of nowhere, with no readily-available solutions in sight, to solve the problems.

He pointed out that innovation, which implies thinking outside -the -box seeks to find solutions to the problems facing the world through research works of the academia. He therefore, encouraged researchers to interrogate viable research problems facing Africa today and proffer solutions that would impact the society.

The Vice-Chancellor, AE-FUNAI, who was represented at the event by the Deputy Vice-Chancellor Administration Professor Abel Ezeoha, urged the participants to discover workable solutions to the economic uncertainty facing the world, especially African nations.

While delivering the keynote speech of the conference, the Ebonyi State Commissioner for Finance and Economic Development, Professor Leonard C. Uguru who was represented by Dr. Monday Ikpor, said that sustainable development has become a popular catch-phrase in contemporary development discourse, ,adding that in spite of its pervasiveness and the massive popularity, it has garnered over the years, much seems still unclear about its definitive meaning, basic history and its implication for development theory and practice, stressing that the keynote address was to address the ambiguity associated with the popular concept and how uncertainty remains an innovative instrument for achieving sustainable development in Africa.

He noted that while uncertainty poses significant challenges for Africa, it also opens up pathways for sustainable development, and called for the fostering of innovation, adaptive strategies and collaborative efforts among governments, and other critical stakeholders to drive and sustain economic development across the African continent.

While lending his voice, the Dean Faculty of Social Sciences Professor Kalu Uma said that the theme of the conference, “Uncertainty, Innovation & Sustainable Development in Africa”, was apt due to the prevailing economic quagmire experienced in many African countries, Nigeria is inclusive.

He noted that as people we should find new ways of solving old and uncertain problems, as the issue of insecurity, the problem “growthlessness”, poor resource, management, excessive migration of professionals (brain drain syndrome),, high degree of income inequality, climate change, improper development amongst others, necessitate the call for innovation and sustainable development.

He therefore, enthused that Africa is revivable, but only requires square pegs in square holes in leadership positions, noting that inward-looking, change of mindset and revival of consciousness of the leaders and the led amongst others, are some of the requirements needed to jump-start economic development in Africa.

Earlier, in her welcome remarks, the Head of Department, Economics and Development Studies, Dr. Anuli Regina Ogbuagu, noted that the conference brought together scholars, researchers, policy makers, and practitioners from various locations to share knowledge, experience and insights on the economics of uncertainty and development in Africa, explaining that the theme of the conference was relevant, given the current global uncertainty and its impact on African economies, 

She thanked the Vice-chancellor for his tireless and fatherly support to the growth of the department, adding that his contributions were invaluable.

There were other paper presentations. Firstly, by Dr. Chris U kalu which harped on the need for implementing innovative financing mechanism, technological improvement, social safety nets, economic diversification, invest in research and development, regional strategies and regional cooperation, which African governments and policy makers can use to unlock its innovation potentials and achieve sustainable development that benefits Africa in the 2st century and beyond 

Secondly, Dr Jonathan Oguabor in his submission said that Africa should integrate science, technology and innovation into policy goals, adding that embracing science ,technology and innovation in public policy goals and development agenda is crucial in realizing the 2030 agenda as it will enable the economies to drive their broader developmental agenda on the foundation 

Highlight of the event was the presentation of awards to speakers, at the conference.